Welcome to BP Nation Matt.

My wife is on board and is supportive.All is well?

With a cooperative owner/bank, I returned it to fee simple, then rolled the dice with the assessor and village board after close, with lots of due diligence in between.

Jason,Welcome to the boards, its always goo to connect with another Eastie resident.As far as your plan, I think its fine.

The knowledge on this board is astonishing, and I am excited to pick at that knowledge, if willing.My question is simple in nature, but I assume it is probably more open ended than expected.

The 50% rule is for residential property, the numbers for commercial property are all over the board depending on area, property type, etc.

The agent who showed you the previous house you bought most likely violated his board's rules by dealing with you without either an unrepresented buyer form or w/o dealing with your agent directly.

There's a copy of Marcus & Millichap's 2013 National Apartment Report at:http://agarciaiespotlight.wordpress.com/2013/01/25/be-the-first-to-see-marcus-millichaps-2013-national-apartment-report/It gives a general list of major markets with price per unit break down.

Kingville, TX Small A** Town made up of Board Control/Military Members/University Locals Only a Walmart $100k would buy a nice house getting $1000-$1200 in rent 3-4 Bedroom 2 Bath Taxes 3% Insurance High due to Hurricanes Approx 2% B/C Wind, Flooding and Normal Insurance needs.

I hope you guys are enjoying your Holidays.Thanks for the response guys.I felt that the price was a bit high as well which is why I took to the board to stand on seasoned investors shoulders.Thank you for the insight